WASHINGTON -- Legislation to exempt high-speed rail bond issues from the private-activity volume cap was derailed in the House yesterday as a number of lawmakers objected to a provision that would institute a new tax-reporting requirement for states and localities.

Also yesterday, the House passed a bill by voice vote that would allow New York City to issue tax-exempt bonds to expand the offices of the United Nations and thereby attempt to keep the organization from moving some of its agencies out of the city.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.